Martin Lewis has revealed just how damaging the rise in the energy price cap will be as he broke down the figures.
Ofgem has confirmed an 80.06% rise in the energy price cap, sending the average household's yearly bill from £1,971 to £3,549 from October. The cap will come into effect for around 24 million households in England, Scotland and Wales on default energy tariffs on October 1, and will remain in place until December 31, when it will be adjusted again.
The 4.5 million pre-payment meter customers, who are often the most vulnerable and already in fuel poverty, will see an even more punishing increase, with their average annual bill set to go up to £3,608.
